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Jul 5, 2012
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can keep cool, as europe's troubles heat up. >> reporter: central bankers from europe, england, and china moved to give their respective economies a boost on the same day, within the same hour. and, don't forget just a few weeks ago, ben bernanke and company moved to keep long-term rates low longer. so, investors are now wondering whether all of the action suggests world leaders finally have a grand plan to rescue the global economy or, could it be the slowdown is worse than we originally thought? economists say it's probably a bit of both. >> there is a big problem. it's why wsee central bankers around the world putting stimulus in place. i think there's a recognition certainly in europe that action needs to be taken. so, that's a good thing. >> reporter: after the european central bank trimmed rates today, e.c.b. president mario draghi raised the economic red flag, noting the downturn was spreading. he said "we can genuinely say that this measure is addressed to the whole of the euro area and not only specific countries." against a back drop of weakening global economies is it even poss
can keep cool, as europe's troubles heat up. >> reporter: central bankers from europe, england, and china moved to give their respective economies a boost on the same day, within the same hour. and, don't forget just a few weeks ago, ben bernanke and company moved to keep long-term rates low longer. so, investors are now wondering whether all of the action suggests world leaders finally have a grand plan to rescue the global economy or, could it be the slowdown is worse than we originally...
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Jul 11, 2012
07/12
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let me give you some examples of what is happening in europe today. britain, a lot of people don't know that. britain has today around 60 official sharia courts. and one of these courts settled an inheritance dispute involving a man whose estate had to be divided between his children, and that sharia court in britain gave the sons twice as much as the daughters in accordance with the koranic pronouncement that a woman is only worth half of a man. and in my own country, the netherlands, sharia is being applied. i know it's hard to believe, but sadly it's very true, and, that ladies and gentlemen, is a disgrace. in our civilization, men and women are equal before the law. [ applause ] ladies and gentlemen, please make no mistake. islam is also coming to america. indeed, it has already arrived. your country, too, is facing a stealth jihad, an islamic attempt to introduce sharia law bit by bit by bit. islam demands already in america today separate campaign housing for muslims. islam demands that women have separate hours in gyms and swimming pools. schoo
let me give you some examples of what is happening in europe today. britain, a lot of people don't know that. britain has today around 60 official sharia courts. and one of these courts settled an inheritance dispute involving a man whose estate had to be divided between his children, and that sharia court in britain gave the sons twice as much as the daughters in accordance with the koranic pronouncement that a woman is only worth half of a man. and in my own country, the netherlands, sharia...
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Jul 11, 2012
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this europe, this europe is on the verge of disappearing. in each one of our cities both an italian author shortly before
this europe, this europe is on the verge of disappearing. in each one of our cities both an italian author shortly before
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just offend europe and united states to skate take care of its issues i mean. decouple i think that i think there's certainly a need for greater security integration in europe particularly look at the expense we have a lot of countries now in europe are cutting back on that force is already too much duplication so i'd really like to see some kind of uniform unified security for force in europe but i think it's also important to look at nato whether we got them the successes or failures we talk to and nato interventions but i come back to this point there's a lot of things that happened in the world which nato manifestly didn't we didn't get involved in to give just one example to rwanda and genocide so obviously the security setup we have in the world at the moment isn't meeting its needs and that's why i think we need this new infrastructure this is new texture to be able to meet the needs of the world of the modern world george what do you think about that would you like to. let me go to georgia or would you like to see need to expand i don't think it's a que
just offend europe and united states to skate take care of its issues i mean. decouple i think that i think there's certainly a need for greater security integration in europe particularly look at the expense we have a lot of countries now in europe are cutting back on that force is already too much duplication so i'd really like to see some kind of uniform unified security for force in europe but i think it's also important to look at nato whether we got them the successes or failures we talk...
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Jul 11, 2012
07/12
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process of discovering in europe. and that's high growth the last couple of years. and start for example this year. the other thing is we're not really strongly represented in some of the economies that are weakened. so we have a small business in italy. our business is concentrated in the uk and ireland, and france, and coming stronger. i think as a result, our overall performance in europe has been pretty darn good. >> susie: it looks like a repeat of m.f. global, but this time, the fraud appears to be smaller. more than $200 million in client money is missing from p.f.g. best, the futures brokerage firm. federal regulators today sued the firm and its chairman russ wasendorf, sr., for misappropriating client funds and submitting phony bank records for at least the past two years. the national futures association froze p.f.g.'s accounts late yesterday, after the company reported wasendorf had attempted suicide. he remains in critical condition. we spoke with wasendorf back in november as the futures industry was grap
process of discovering in europe. and that's high growth the last couple of years. and start for example this year. the other thing is we're not really strongly represented in some of the economies that are weakened. so we have a small business in italy. our business is concentrated in the uk and ireland, and france, and coming stronger. i think as a result, our overall performance in europe has been pretty darn good. >> susie: it looks like a repeat of m.f. global, but this time, the...
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Jul 9, 2012
07/12
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this europe, this europe is on the verge of disappearing. in each one of our cities both an italian author shortly before she died in the year 2006, in each one of our cities there is a second city, a state within the state, a government within the government, a muslim city, a city ruled by the koran, end of quote. and perhaps many americans see immigration as something which is inherently good for our country. since i know it contributed in the past so much to the united states, but while most of the former immigrants to the united states came from europe, a continent with the same judeo-christian heritage and roots, europe contemporary immigrants do not share, do not share our common roots. on the contrary. the islamization of our society today in europe is undermining that same western judeo-christian values. and i'm not talking about the threat of terrorism of violence alone. there is also the phenomenon of non-violent jihad. europe's increasingly assertive islamic lobby has successfully pressured european politicians into implementing p
this europe, this europe is on the verge of disappearing. in each one of our cities both an italian author shortly before she died in the year 2006, in each one of our cities there is a second city, a state within the state, a government within the government, a muslim city, a city ruled by the koran, end of quote. and perhaps many americans see immigration as something which is inherently good for our country. since i know it contributed in the past so much to the united states, but while most...
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Jul 21, 2012
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they talk about the overall economy, and europe. a lot of people say banks would lend to people, but only to people who don't need money with really great credit. so they're very risk averse. >> i think it's fair to say this is a lolt lot of regulatory clogs, and giving people jobs writing rules. hard to judge that. >> susie: and more rules to come. the one thing that people at home want to know is has the way of dog business in the banks and the financial institutions khiefrjed? as the culture changed? what is the attitude toward taking risk? has that changed? what's your sense? what are you hearing? has the culture changed? >> that's a great question. here's what i was told today. banks when they look at making investments and decisions they start to think about regulations. some say good, they're being more careful. they're thinking about what they can and can't do, and maybe after what we've been through, we want banking to be a quiet boring business again. other people say no, like the ceos are saying it's innovation. the real
they talk about the overall economy, and europe. a lot of people say banks would lend to people, but only to people who don't need money with really great credit. so they're very risk averse. >> i think it's fair to say this is a lolt lot of regulatory clogs, and giving people jobs writing rules. hard to judge that. >> susie: and more rules to come. the one thing that people at home want to know is has the way of dog business in the banks and the financial institutions khiefrjed? as...
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Jul 24, 2012
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and economically for europe those reforms need to be more financial support, if you leave europe, will is, there is a good way to think about the challenge if you lead europe to the edge of the abyss and leave it just teetering on the edge of financial disaster, it will be much harder for the strategy to work. >> rose: some say the chancellor merkel believes she can always come in and rescue at the last moment. >> that's right. >> rose: and that's her operative philosophy. >> that's right. now, to speak in her favor, as a strategy, she is very worried about is that if they relieve too much of the pressure, the incentive for reform will fade, and they will have spent a bunch of the taxpayer's money in germany without any real return to make europe work better, so he is right to be worried about that, if you were in her shoes you would think the same way, the balance is if you leave europe on tej of the abyss as your source of leverage your strategy won't work because you will raise the ultimate cost of the crisis, much more expensive to fix and you a lot of damage to the politics of tho
and economically for europe those reforms need to be more financial support, if you leave europe, will is, there is a good way to think about the challenge if you lead europe to the edge of the abyss and leave it just teetering on the edge of financial disaster, it will be much harder for the strategy to work. >> rose: some say the chancellor merkel believes she can always come in and rescue at the last moment. >> that's right. >> rose: and that's her operative philosophy....
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Jul 10, 2012
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europe. those who tipped the scales in favor of one side lose the other. >> more than 12,000 legal challenges have been lodged with the court. plaintiffs feared germany is giving away too much power to brussels. >> we do not want people like you and i, voters in germany, to wake up tomorrow to find that we are allowed to vote for german parliament, but that parliament has ceded key elements of laws governing budgets to europe. >> the court has invited a large number of experts to assess the case. the german government is represented by the finance minister, who warned that the markets could lose confidence if the new bailout fund is delayed. >> i am please we are having this hearing, and i hope that through a thorough examination of the case, the constitutional court will issue its ruling soon. >> first of all, judges have to decide if the federal president is allowed to sign the laws already passed by parliament. if so, they could come into effect, even if the court were to rule later that t
europe. those who tipped the scales in favor of one side lose the other. >> more than 12,000 legal challenges have been lodged with the court. plaintiffs feared germany is giving away too much power to brussels. >> we do not want people like you and i, voters in germany, to wake up tomorrow to find that we are allowed to vote for german parliament, but that parliament has ceded key elements of laws governing budgets to europe. >> the court has invited a large number of experts...
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Jul 23, 2012
07/12
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a lot of talk of people in europe that needed to lighten up here, margin calls in europe. at any rate, heading in to the european close, the dollar came off of the highs and maybe some of that selling pressure over europe abated a bit. slowly moving up here. regained 100. i just want to note, though, there are a number of big sectors entered correction territory. financials a little while ago but today energy and tech. down 10% off the highs. industrials interestingly not having that bad of a day. eaton with numbers better than expected. revenues disappointed and the guidance wasn't very good and not as bad as some people feared and companies with tough times in the industrial space trading to the upside. finally, a ban on short selling of spanish stock seems crazy stupid to me. they had a ban on short selling financial stocks august of last year to february of this year and you can see, sue, not prevented the spanish market from falling further. they need to think more clearly about this. hurting spanish stock trading and volumes back there. >> i would agree with you. ber
a lot of talk of people in europe that needed to lighten up here, margin calls in europe. at any rate, heading in to the european close, the dollar came off of the highs and maybe some of that selling pressure over europe abated a bit. slowly moving up here. regained 100. i just want to note, though, there are a number of big sectors entered correction territory. financials a little while ago but today energy and tech. down 10% off the highs. industrials interestingly not having that bad of a...
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Jul 23, 2012
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what's the real danger in europe now? >> well, the interesting thing is the last two weeks, the market went from focussing on the macrostory to the microstory, basically looking at earnings which actually have been better than expected, hence the market kind of grinding up higher. now, on friday as earlier you're mentioning in your program, valencia, one of the regions in spain is basically asking for a bailout from the larger spanish government. this is nothing new. if you just look back acouple of months back, one of the largest banks in spain, b bancia was partially nationalized. the markets in essence had just switched gears and foe kiss on the micro, and are looking back and realizing that the situation in spain has really not been resolve and we're dealing with the same structural issues we have been for the last couple of years. >> susie: you know, investors everywhere knew the situation in europe is not over and i think what's really worrying everybody is that the view that spain got this big bailout on friday, an
what's the real danger in europe now? >> well, the interesting thing is the last two weeks, the market went from focussing on the macrostory to the microstory, basically looking at earnings which actually have been better than expected, hence the market kind of grinding up higher. now, on friday as earlier you're mentioning in your program, valencia, one of the regions in spain is basically asking for a bailout from the larger spanish government. this is nothing new. if you just look back...
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australia and if this is to be ratified by six of those parties europe will not be a part of it europe is considered as one entity the main a concern really here is the loss of freedom and just more monitoring from authorities in favor of those people lobbying commercially for the intellectual property rights of their climbing especially for example the entertainment industry is not for individual for people who are using the internet what they want here is simply freedom to do what they what they see as a very democratic platform and so millions of people had signed on directly emailing any peace sign a petition to the petitions committee here in brussels arguing that the potential benefits of this act of bill of wanted to bring through is far outweighed by the damage that it could bring david martin who was steering this act to bill in the parliament had actually said that the devil in this case is in the lack of detail it was so vague that it is indeed passages opens the floor for interpretation of possible jailing of individuals and so he says that the european parliament is simply
australia and if this is to be ratified by six of those parties europe will not be a part of it europe is considered as one entity the main a concern really here is the loss of freedom and just more monitoring from authorities in favor of those people lobbying commercially for the intellectual property rights of their climbing especially for example the entertainment industry is not for individual for people who are using the internet what they want here is simply freedom to do what they what...
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well it's it's a late stage phenomenon it feels to me in the western world where if we look at europe and the us exclusively. these are these were the powers that emerged in the second world war and there they emerged and strengthened throughout the ensuing decades because they were relatively free market societies and the us has been a free market society for a long time. so as those economies have progressed they have become. alas a free market oriented to the extent that the zero eight crisis opens the door to government manipulation on a monumental scale so instead of doing what a healthy organism would do which is to say ok i got i took a trauma blow or i got sick i'm going to just heal instead of keeping dosing ourselves the governments have been involved in it in sending bailouts to every possible place they could send a bailout running up that's the process they have been manipulating almost every single credit market whether it's sovereign debt whether it's the debt financial institutions whether it is. mortgage debt now student loan debt and the list goes on and on and on le
well it's it's a late stage phenomenon it feels to me in the western world where if we look at europe and the us exclusively. these are these were the powers that emerged in the second world war and there they emerged and strengthened throughout the ensuing decades because they were relatively free market societies and the us has been a free market society for a long time. so as those economies have progressed they have become. alas a free market oriented to the extent that the zero eight...
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of the rise of notions of extreme nationalism into europe on the. emotions of a number of the four terrible fascist. regime so that so the less there is a historical lesson there is that there is a great danger that develops now i don't see is by any means being. simple i think the difference between now and then is that democratic culture democratic institutions are much stronger in europe than they were before the second world war so i'm confident i'm hopeful that european democracy can subodh its current across do you think talking of democratic institutions to think that a politician with anti-democratic views could rise to power through those democratic institutes but that that's exactly what happened in the case of hitler didn't it and that's what happened in a number of other countries in europe but before and all for the second world war so it's it's a distinct possibility that it will be a challenge it will be a test of western democracy not just western democracy but european international democracy kind of if you survive the challenge of
of the rise of notions of extreme nationalism into europe on the. emotions of a number of the four terrible fascist. regime so that so the less there is a historical lesson there is that there is a great danger that develops now i don't see is by any means being. simple i think the difference between now and then is that democratic culture democratic institutions are much stronger in europe than they were before the second world war so i'm confident i'm hopeful that european democracy can...
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australia and if this is to be ratified by six of those parties europe will not be a part of it europe is considered as one entity and the thing is those who are supporting actor really wanted to get the european union on board because this will have more clout in terms of what they want to accomplish in enforcement of the law cooperation basically for you the merger of all of these but now that europe is out of the picture it will certainly diminish the kind of control or power that this agreement will hold if it is indeed ratified by six parties who had initially signed on to this agreement. we're seeing live pictures there from the european parliament the agreement sparked mass protests across europe why exactly were people so concerned about what could have happened if this bill went through. well the main concern really here is the loss of freedom and just more monitoring from a florida in favor of those people lobbying commercially for the intellectual property rights of their climbing especially for example the entertainment industry is not for individual for people who are usin
australia and if this is to be ratified by six of those parties europe will not be a part of it europe is considered as one entity and the thing is those who are supporting actor really wanted to get the european union on board because this will have more clout in terms of what they want to accomplish in enforcement of the law cooperation basically for you the merger of all of these but now that europe is out of the picture it will certainly diminish the kind of control or power that this...
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Jul 2, 2012
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pmis in the euro zone and europe. remember, last week, european stocks finished at a 7-week high, close to summit on friday. it's not a bad week. a pretty poor quarter. 4100 up 1.1% last week. but on the quarter, down over some 3.4% last week on the quarter. the tax down 7.6% below. it was up 2.4% last week. that was certain hi goily goinga focus here. the quarter down 11.3 pnt. slightly lower today. the last quarter down 6% despite gains of last week again 2%. bond yields, we have seen literally after those pmis come down in spain. spanish bond yields down at 6.25 this morning, so still feeling the benefit after being up 7% in the last week. 10-year yields, u.k. manufacturing pmis coming out in just under half an hour's time. this is where we get great cuts and more qe from the bank of england when they suggest that banks should throw off or use some of the excess reserves. the best one-day gain results on friday. not quite there at the moment. 126.30. but still at the range. the yen, not much reaction today to use t
pmis in the euro zone and europe. remember, last week, european stocks finished at a 7-week high, close to summit on friday. it's not a bad week. a pretty poor quarter. 4100 up 1.1% last week. but on the quarter, down over some 3.4% last week on the quarter. the tax down 7.6% below. it was up 2.4% last week. that was certain hi goily goinga focus here. the quarter down 11.3 pnt. slightly lower today. the last quarter down 6% despite gains of last week again 2%. bond yields, we have seen...
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Jul 15, 2012
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it's still unclear what's going to lap in europe. >> right. >> and if europe blows up, then that is going to explode a lot of business plans of a lot of companies. it's not a bad idea -- >> this is brilliant because we have to take a break. and when we come back, we will discuss whether europe will blow up, whether there will be another oil hike. stay tuned. we actually have the answer. we'll be back. [ male announcer ] citi turns 200 this year. in that time there've been some good days. and some difficult ones. but, through it all, we've persevered, supporting some of the biggest ideas in modern history. so why should our anniversary matter to you? because for 200 years, we've been helping ideas move from ambition to achievement. and the next great idea could be yours. ♪ and the next great idea could be yours. last season was the gulf's best tourism season in years. in florida we had more suntans... in alabama we had more beautiful blooms... in mississippi we had more good times... in louisiana we had more fun on the water. last season we broke all kinds of records on the gulf. this ye
it's still unclear what's going to lap in europe. >> right. >> and if europe blows up, then that is going to explode a lot of business plans of a lot of companies. it's not a bad idea -- >> this is brilliant because we have to take a break. and when we come back, we will discuss whether europe will blow up, whether there will be another oil hike. stay tuned. we actually have the answer. we'll be back. [ male announcer ] citi turns 200 this year. in that time there've been some...
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top stories europe makes. big corporations and president of the web. war of words a dispute over russian to be used in ukraine. crowds. everything in the universe exists up next america. has taken a battering in recent years. good afternoon and welcome to capital account on laurin the store here in washington d.c. these are your headlines for tuesday july second two thousand and twelve mexico has elected a new leader reportedly the opposition candidate from the former ruling party and he's promising to put the country back in the big league of emerging economies and we'll talk to the author of breakout nation route share sharma about one takes to be a breakout emerging economy and where some of the up and coming booms are likely to be seen also today commodities specifically industrial raw materials lead reported they are concerns about growth and future demand as our guest puts it the game of economic growth is one snakes and ladders so looking ahead what do those countries climbing up versus those sliding down mean for commodity prices and our centra
top stories europe makes. big corporations and president of the web. war of words a dispute over russian to be used in ukraine. crowds. everything in the universe exists up next america. has taken a battering in recent years. good afternoon and welcome to capital account on laurin the store here in washington d.c. these are your headlines for tuesday july second two thousand and twelve mexico has elected a new leader reportedly the opposition candidate from the former ruling party and he's...
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and europe could find themselves on very fresh but unconventional attack british m.p.'s say the u.k. should declare cyber war on states and organizations which target it by carrying out aggressive hacker attacks itself. if you can't beat him join him that seems to be britain's new attitude when it comes to dealing with attacks a new report by the u.k.'s intelligence and security commission has concluded it's not enough to defend. attacks additionally the military and spy agencies should be actively declaring some. enemy state attack evidently is in their view the best form of defense although in this case they're calling it active defense. barry voicing that britain should be secretly hacking into enemy systems using programs like the stuxnet virus which disrupted iran its nuclear enrichment program it comes just two years after the launch of a six hundred fifty million pounds national soluble security program but progress according to the m.p.'s on the committee has been slow the national security strategy ranks the threat of cyber attacks alongside that of terrorism a
and europe could find themselves on very fresh but unconventional attack british m.p.'s say the u.k. should declare cyber war on states and organizations which target it by carrying out aggressive hacker attacks itself. if you can't beat him join him that seems to be britain's new attitude when it comes to dealing with attacks a new report by the u.k.'s intelligence and security commission has concluded it's not enough to defend. attacks additionally the military and spy agencies should be...
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Jul 15, 2012
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it's still unclear what's going to happen in europe. >> right. >> and if europe blows up, then that is going to explode a lot of business plans of a lot of companies. it's not a bad idea -- to keep money on your balance sheet. >> we have to take a break. when we come back we will discuss whether europe will blow up. whether there will be another oil hike. stay tuned. [ male announcer ] citi turns 200 this year. in that time there've been some good days. and some difficult ones. but, through it all, we've persevered, supporting some of the biggest ideas in modern history. so why should our anniversary matter to you? because for 200 years, we've been helping ideas move from ambition to achievement. and the next great idea could be yours. ♪ >>> we are back with zanny minton beddoes of "the economist,"" zachary karabell, chrystia freeland, and larry kudlow. zanny, the thing about europe that surprises me is everybody says it's going to blow up. and somehow it doesn't. i mean, things are a mess, bond yields go up, it's harder for them to borrow, and there has v to be some emergency -- at
it's still unclear what's going to happen in europe. >> right. >> and if europe blows up, then that is going to explode a lot of business plans of a lot of companies. it's not a bad idea -- to keep money on your balance sheet. >> we have to take a break. when we come back we will discuss whether europe will blow up. whether there will be another oil hike. stay tuned. [ male announcer ] citi turns 200 this year. in that time there've been some good days. and some difficult...
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Jul 25, 2012
07/12
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just today, ups and dupont did a but-for, and you could only wish they could asterisk europe, as if europe somehow doesn't count towards earnings because it's dragging down both the tops and bottom lines. ups, which was the most negative i have heard of any company, because they were the precursor to last year's decline. they didn't have a good word to say about asia either. they're talking about business falling off a cliff. even mcdonald's had to talk about how you needed a super value meal to attract diners. in germany, a value meal isn't enough? get a super value meal. mcdonald's cited the multiyear ennui in europe for the reason for the slowdown. customers finally understand things aren't coming back anytime soon. this is burgers and fries we're talking about. unlike europe and the united states, though, the genuine chinese politicians are trying to work magic. yum brands has echoed the negativity. yum's sales weren't as robust as they were and neither were the sales of mcdonald's. of the three sets of politicians, the europeans, americans and chinese, the communists recognize the imp
just today, ups and dupont did a but-for, and you could only wish they could asterisk europe, as if europe somehow doesn't count towards earnings because it's dragging down both the tops and bottom lines. ups, which was the most negative i have heard of any company, because they were the precursor to last year's decline. they didn't have a good word to say about asia either. they're talking about business falling off a cliff. even mcdonald's had to talk about how you needed a super value meal...
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point but does it have to be a war in europe was a big world you know it could be civil war in europe we've already had that inklings of some strife you see what's happening in greece i mean you see people in the streets in the u.k. and other countries so we could be civil strife and civil unrest as well or it could be you know they can blame the asians everybody loves to blame somebody far away i don't know who they are blame the next time around but misunderstood throughout history since the beginning of time we've had wars i would love for the us to stop wars because they're total waste of time money and everything else the energy in human life it's their disasters unfortunately we've never learned our lessons i'm with you on that it definitely would be a disaster scenario and terms of the disaster that appears to be the euro right now what would it take to stabilize it never what time period will it take. well i was going to stabilize his for there to be sound economies and sound economics through the countries that are part of the euro and with it in my solution would be to let p
point but does it have to be a war in europe was a big world you know it could be civil war in europe we've already had that inklings of some strife you see what's happening in greece i mean you see people in the streets in the u.k. and other countries so we could be civil strife and civil unrest as well or it could be you know they can blame the asians everybody loves to blame somebody far away i don't know who they are blame the next time around but misunderstood throughout history since the...
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economy rather than europe? >> think of the trouble the president of the united states got into from saying that the private sector is doing a lot better than the public sector. he was telling the truth. the private sector is doing dramatically better. let me just give you a few an deck dotal examples. homes are selling very quickly in seattle, phoenix, scranton, pennsylvania and other places around the country. so homes are selling. inventories are way down. home builders are building. it takes 6 to 12 months from ramp up. remember, housing starts worth 320,000 were last year in a 315 million person population. that is such a deep depression in housing. it's going to take 6 to 12 months to ramp that up. if you back out the loss of jobs at the municipal level we're doing fine. in fact, the united states is paradise compared to the rest of the world. people should not upestimate the recovery that will make. i would remind everyone in may warren buffett said when housing comes back, you'll be shocked how much unem
economy rather than europe? >> think of the trouble the president of the united states got into from saying that the private sector is doing a lot better than the public sector. he was telling the truth. the private sector is doing dramatically better. let me just give you a few an deck dotal examples. homes are selling very quickly in seattle, phoenix, scranton, pennsylvania and other places around the country. so homes are selling. inventories are way down. home builders are building....